At the end of another year of global uncertainty, your company yet
 again had a successful and eventful year. In the financial year
 concluded, Hinduja Global Solutions undertook some important strategic
 initiatives towards enhancing its scale and presence on the global map
 and crossed an important milestone of achieving over Rs. 1,000 crore in
 annual revenues.
 
 At the beginning of its second decade of operations, your company is
 embarking on an ambitious journey to become a globally preferred
 business transformation partner to its clients. The focus remains on
 the path it has set out which is to continue adding value to its
 clients and invest in the capabilities that matter to them in order to
 enhance productivity of their processes through innovative outsourcing
 solutions.
 
 The emphasis on constantly seeking ways in which it can improve and be
 better than before continues. A strategy has been devised with the
 following three initiatives: Right Shore, One Experience and Cross Sell
 (R.O.C.).
 
 Your company maintains a strong belief in its Right Shore delivery
 model which combines a mix of onshore, offshore and near-shore
 delivery, this global delivery model had significant success in the
 past year. An increasing number of clients are making the choice to
 partner with your company for multiple-shore delivery solutions. A plan
 has been drawn up and is being executed to expand and enhance the
 companys presence into new territories across Europe, Asia and Latin
 America, and to deepen market penetration in the existing territories.
 This will add to the multi-shore offering for clients in the existing
 markets in addition to serving new clients in the new markets. Your
 companys acquisition of Careline in the UK, in line with this
 strategy, has proven to be a valuable addition to its overall
 offerings. Such initiatives have made HGS a front runner in exploring
 opportunities to grow inorganically through the right acquisitions, at
 the right price, and in the right markets.
 
 The company is currently reorganizing all its global businesses into a
 One Experience solution to ensure that global clients are even more
 comfortable about the enhanced level of excellence in service delivered
 consistently across the entire delivery network with alignment of both
 processes and cultures. This is supplemented by a phased branding
 integration, in line with a single name - Hinduja Global Solutions. The
 offices across the USA, Canada, the UK, the Philippines, India and
 Mauritius will share a single identity and a common brand with the
 simple acronym of HGS.
 
 Your company continues to add to its portfolio of services for its
 clients across different verticals on converging technology platforms,
 allowing its teams to Cross Sell capabilities; and enhance the
 processes managed for its clients. In line with this strategy, your
 company has had recent success in cross-selling customer contact
 services to existing back office services clients.
 
 As your company executes this strategy and further builds scale, both
 organically and inorganically, it is enhancing its ability to win
 larger service contracts. The company benefits from being a member of a
 much larger Hinduja Group with major investments in diverse industries,
 as this provides additional comfort about financial stability of your
 company to potential new clients.
 
 All of the past successes of your company would not have been possible
 without the undeterred passion, commitment and drive of the management
 team and the wisdom, guidance and vision of Hinduja Group chaired by
 Shri S. P. Hinduja, your Chairman-Emeritus, Shri A. P. Hinduja, as well
 as the support and help of other members of the Hinduja Family and
 Group. The credit for the success of your company over the last 10
 years is shared by each and every stakeholder without whom all the
 ingredients of success would have not been there. I would like to take
 this opportunity to thank all our 19,442 employees for their hard work
 and effort - they are the reason for clients satisfaction across 1,046
 processes and each of our 106 clients for providing the company with
 opportunities and for the faith shown which has allowed their
 partnership with the company to grow. In addition, the bankers and
 lenders who have lent support when needed; auditors, advisors, lawyers
 and the Board for the valuable guidance and counsel. Also, the
 governments of the respective countries where we operate for welcoming
 and allowing your company to train and to create employment; and last
 but by no means the least each and every shareholder for believing in
 HGS.
 
 We are excited about the opportunities that the second decade of
 Hinduja Global Solutions presents us with.
 
 Yours sincerely,
 
 Ramkrishan P Hinduja
 
 Chairman
 
 June 30, 2011